Market Research Future (MRFR) expects the Tattoo Removal Market 2020 to touch USD 4,794.9 Million by 2023. The tattoo removal business is bolstered by the growth of the laser tattoo removal market in light of a mounting number of aesthetics procedures and the rising preference for non-invasive procedures.
Tattoo Removal Industry has been significantly affected by the COVID-19 outbreak, with manufacturers facing challenges in the form of increased supply and demand gap. The strict lockdown has led to shut down of tattoo parlors, clinics and hospitals, to avoid the spread of the pandemic. In view of the rising SARS-CoV-2 cases worldwide, laser surgical procedures had to be postponed.
Healthcare is now more focused on patients affected by COVID-19, considering the massive surge in the number of novel coronavirus cases. MRFR however expects the tattoo removal business growth to pick up pace in the years to come, as procedures have now begun post the lifting up of the lockdown and reopening of several tattoo parlors across countries.
Strict Corporate Policies to Foster Demand
‘Tattoo regret’ has gained huge prevalence among millennials, which is driving them towards tattoo removal procedures. Various companies across the globe refrain from employing candidates that have tattoos, especially those that are visible, such as on areas above the collar, face or below the wrist. These companies are of the belief that visible tattoos come across as unprofessional. These kinds of social issues are projected to boost the demand for tattoo removal. A few other factors boosting market growth can be the evolving tattoo trends, changes in personal preferences and poor artwork or design.
Rising Use of Tattoo Removal Lasers to be Opportune for Companies
The most effective tattoo removal lasers in the market are dermabrasion, pulsed light therapy, chemical peels and plastic surgery. Most of these techniques are safe, non-invasive and effective, and are therefore, witnessing high popularity across countries. Additionally, non-invasive procedures are gaining consumers’ preference in conjunction with the growing market size for face tattoo removal worldwide. Face tattoo removal fosters the need for less scarring and painful procedures, which are non-invasive.
High Costs of Laser Therapies to be a Key Growth Restraint
The significant costs associated with laser therapies for tattoo removal bring down consumers’ willingness to go ahead with the procedure. This is primarily the case in emerging regions, with lower disposable income of the mass and unfavorable reimbursement scenario.
Scar and Pain-Related Issues to Weaken Demand for Tattoo Removal
Painful procedures that involve several sessions during treatment along with the emergence of scars following the surgery are weakening the demand among consumers. This can be a big challenge for the top players in the years ahead, which is why they are indulging in extensive R&D activities to produce effective technologies that address these issues.
Cumulative Growth Analysis
Global market to Scale Ahead at an Impressive Pace
MRFR anticipates the tattoo removal market outlook to be quite promising, as its size can expand at a rate of 15.6% between 2017 and 2023 (review period).
Laser Therapy to be the Most Popular Treatment Method
The various treatment methods covered in the report are surgical method, topical creams, laser therapy, and more. Laser therapy owns the biggest share of 66% in the global market, as a result of the rising availability and deployment of advanced laser devices, and the provision of effective tattoo removal. Laser therapy is often considered to be the future of tattoo removal, taking into account the surging preference for minimally or non-invasive procedures. Furthermore, several brands are increasingly undertaking laser tattoo removal marketing strategies to boost their customer base and increase their global presence.
Provision of a Broad Range of Services Fosters Growth of Laser Centers Segment
The top end-users in the tattoo removal devices market are dermatology clinics, laser centers, and others. Laser therapy’s surging popularity for tattoo removal along with the extensive services offered by specialty laser centers compared to general dermatology clinics contribute to the segment’s growth in the global market. As a result, in 2016, the laser centers segment managed to reach a whopping USD 895.2 Million.
North America All Set to Capture the Highest Share
North America is most likely to clinch the leading position in the global tattoo removal market over the following years and currently, holds the biggest share of 39.6%. The stupendous market performance by North America is the result of the high number of well-equipped tattoo parlors. Studies confirm that there are currently close to 12000 tattoo parlors and studios in the United States alone. The high purchasing power of an average person in the region combined with the escalating sales and use of innovative tattoo removal products also benefit the North American market. Moving forward, the tattoo removal market size in South America has been expanding quite significantly over the years, thanks to the rising popularity of medical spa and beauty centers since they are located in the proximity of well-frequented clubs, coffee shops, and various youth attractions.
APAC to Charge Ahead at the Fastest Pace
Companies active in the APAC market for tattoo removal continuously adopt strategies like acquisition and mergers, which could translate into substantial growth in the coming years. The rising significance of tattoos in Japan and China along with the improving capita disposable income of the mass can be accredited for the market growth in the region. Experts note that dragons are quite popular in the Chinese culture and therefore, tattoos based on these have gained significant prevalence in the country. However, a growing pool of people is replacing existing tattoos with a different one, in view of the evolving art and design trends. India is another strong contender in the region, with a soaring number of youngsters opting for modern designs of tattoos and growing aware of different tattoo removal devices. Considering all these factors, MRFR expects the APAC market to secure the fastest growth rate of 16.2% in the years ahead.
Players Launch Innovative Products to Remain Competitive
Firms are deeply involved in boosting their existing products and technologies, launching new products, and more. Most of the players are also striving to develop highly innovative laser technologies for tattoo removal that ensure minimal scars and pain. Companies are trying to leverage the growth opportunities in untapped regions while also striving to bolster their tattoo removal services and products to gain higher impetus in the global market.
MRFR report’s tattoo removal company stock reveals Cutera Inc. as one of the biggest names in the global industry. The company was founded by a few veteran optical and laser engineers and is known for developing advanced medical aesthetic devices. The firm boasts of a broad range of medical devices, related to body and face aesthetics. Development and launch of advanced products remain Cutera’s top growth strategy to make further mark in the global market.
Scope of the Report
Stringent corporate policies with regard to tattoos, digital sensors’ inability to detect physiological parameters owing to tattoos and strict military recruitment policies are expected to ensure market growth during the analysis timeline. The MRFR report also focuses on a few key barriers such as high costs of laser therapies and poor healthcare infrastructure in emerging countries.
By Treatment Methods
By End Users
|Market Size||USD 4,794.9 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Treatment, End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Cynosures (US), Cutera Inc (US), Dimyth (China), Syneron Medical Ltd (US), Astanza (US), Quanta System SpA (Italy), Lutronic (US)|
|Key Market Opportunities||Rising Use of Tattoo Removal Lasers to be Opportune for Companies|
|Key Market Drivers||Strict Corporate Policies to Foster Demand|
Frequently Asked Questions (FAQ) :
Tattoo removal market projected to grow at approximately 15.6% CAGR during the assessment period (2017-2023).
The valuation of the global retinal tattoo removal market is estimated to increase to USD 4,794.9 MN by the end of 2023.
Rising trend of tattooing, acceptance of tattooing as a body art, increasing per capita disposable income are major tailwinds pushing the growth of the global tattoo removal market.
North America holds the largest share in the global tattoo removal market, followed by Europe and the Asia Pacific, respectively.
Bayer, Astrazeneca, Allergan, Annexin Pharmaceuticals AB Bristol-Myers Squibb, CynoSure, Quanta System SpA., Astanza, Dimyth, Cutera Inc., and Syneron Medical Ltd, Lutronic, are some of the top players operating in the global tattoo removal market.